Procedures of the Treasurer Position


Date Written: 03/05/2021

Revision: 1.0

Reason for Change: Original Document


Purpose:

To define the procedures and instructions for the 3M Personal Computer Club – Treasurer Position.


Definitions:

3M Club – 3M organization that manages a variety of individual sports and activity organizations

App – Computer/Tablet/Phone application

Novation – Novation Credit Union

PCC - Personal Computer Club


Scope:

This document covers the process used to manage the finances of the 3M Personal Computer Club.


Process:

The 3M PCC utilizes a Novation Credit Union account under the operation of the 3M Club. While 3M Club no longer contributes to the account, nor has direct financial control over the account, the 3M Club can dictate any procedures or rules at any time. The 3M PCC Treasurer and select 3M PCC Board Members have multi-person access to the account.


Procedures:

    • The 3M PCC Treasurer MUST be a 3M Employee. This position may not be held by a contract worker, retiree, or any other non-3M employee. This is per the rules of 3M Club.

  • The account is held at Novation Credit Union with branches both at 3M Center, Maplewood, MN and the surrounding area.

  • The account consists of a savings and a checking account.

  • To deposit checks, write or stamp “FOR DEPOSIT ONLY To Novation Credit Union 3M Club Personal Computing Club”.

  • Track deposits and withdrawals in a manner acceptable to the 3M PCC Board

  • Write checks and maintain a record for authorized expenditures.

  • If a check is authorized to be written to the 3M PCC Treasurer, a 3M PCC Board Member with his/her/their name on the account must write it. Checks written to CASH are discouraged.

  • The Membership Committee Chair may send checks to the 3M PCC Treasurer for deposit.

  • Those individuals with access to the account may use online banking, including the Novation App for convenience.


Roles and Responsibilities:

    • The 3M PCC Treasurer manages the finances of the club, including the depositing of checks and cash and the disbursement of payments by check for expenditures authorized by the 3M PCC Board Members

    • The 3M PCC Treasurer provides regular updates of the finances of the club to the 3M PCC Board Members, and upon request

    • The 3M PCC Treasurer provides a detailed annual summary of the finances of the club to the 3M PCC Board Members

    • The 3M PCC Treasurer provides a general annual summary of the finances of the club to the 3M PCC Members

    • One or more designated 3M PCC Board Members are also listed on the account


Author(s) Paula Tuebo Munkelwitz 3/5/2021

Approver(s) James Homan 3/5/2021

Tom Kreuzer 3/5/2021